For most applications you will only need 44.1KHz - this being what CD works at. DVDs use 48Khz, but you don't really need to record at that freq. as any digital signal can be converted.
Whilst most interfaces offer high sample rates, up to 192KHz, you don't need to use them. Even in critical audio recording, such as an orchestra, even 96Khz would be excessive in most cases. PLus once you have recorded at such high rates, it puts a lot of strain on your computer.
Max rate means it wont sample at a higher frequency than stated, but as detailed above, you really only need 44.1Khz.
Bits - it is not a rate, but a depth. 24 bit depth gives more than enough headroom and you will not need to record any higher than that.
Good further reading.
http://www.soundonsound.com/sos/feb08/articles/digitalaudio.htmhttp://www.soundonsound.com/sos/sep07/articles/digitalmyths.htm